Page 2 - Capital Markets

Paytm Payments Bank's Mukund Barsagade joins Lendingkart as Group CFO

Mukund Barsagade has previously worked with organisations such as GE Capital, Experian, Transamerica, Utkarsh Small Finance Bank, and Fino Payments Bank in various finance leadership roles

India Inc's capex frontier: When will companies start spending big time?

The economy is growing and capital markets are buoyant. A look into why companies aren't spending enough

Participatory note investment drop to Rs 1.43 trn on high valuations

Overall, the investment through the route saw an upward trend in the last one year with the investment rising from Rs 91,469 crore in January 2023 to Rs 1,49,447 crore in December 2023

Brokers should be cautious against manipulations in stock mkt: Sebi member

Sebi Whole Time Member Kamlesh Chandra Varshney on Saturday cautioned against manipulations in the capital market and urged brokers to keep an eye and prevent such instances. Clamping down on misdoings, the markets watchdog has been taking action against various entities for manipulations, including front running activities. Emphasising the importance of investor trust, Varshney said that if there is no trust of investors, "everything will fail". Manipulations are going on and Sebi cannot intervene in all of them. Some brokers are involved and the broker community should keep an eye as "bad elements can come in the system", he said. He was speaking at the 13th international convention of the Association of National Exchanges Members of India (ANMI) in the national capital. The Whole Time Member of the Securities and Exchange Board of India (Sebi) also said that entities should look at technological developments to improve efficiency as well as business.

Sebi mulls revamping nominations framework to reduce unclaimed assets

Capital markets regulator Sebi on Friday proposed revamping the nominations framework in a bid to reduce unclaimed assets in the securities market as well as smoothen the process for claiming the assets by surviving successors of the deceased investors. In its consultation paper, the regulator proposed revisions to nomination facilities for securities such as shares, bonds, units of REITs (Real Estate Investment Trusts), InvITs (Infrastructure Investment Trusts), AIFs (Alternative Investment Funds) and other securities held in dematerialized form and for units of mutual fund schemes that are expressed in a statement of account. This will address the objective of providing convenience to investors and uniformity in the procedures to institutions. Such revamped nomination facilities will operate without affecting the prevalent systems of law governing transmission and succession -- rule of survivorship in case of joint holdings, when a person has died leaving a Will; and when a perso

Officer's Choice whisky maker Allied Blenders files IPO papers with Sebi

Allied Blenders and Distillers Ltd, the maker of Officer's Choice Whisky, has refiled preliminary papers with the capital markets regulator Sebi to raise Rs 1,500 crore through an Initial Public Offering (IPO). The initial share sale comprises fresh issuance of equity shares worth Rs 1,000 crore and an Offer-For-Sale (OFS) of shares to the tune of Rs 500 crore by promoters, draft papers file with Securities and Exchange Board of India (Sebi) showed on Thursday. As a part of the OFS, Bina Kishore Chhabria, Resham Chhabria, Jeetendra Hemdev and Neesha Kishore Chhabria will sell shares. Out of the total proceeds from the fresh issue, Rs 720 crore will be used for the payment of debt, besides a portion will be used for general corporate purposes. As of December 2023, the company had a debt of around Rs 808 crore, according to the draft papers. With a market share of 8.2 per cent in Indian-Made Foreign Liquor (IMFL) in fiscal 2023, Allied Blenders and Distillers had earlier filed draft

Sebi introduces guidelines for AIFs on holding investment in demat form

Capital markets regulator on Monday put in place guidelines for Alternative Investment Funds (AIFs) pertaining to holding their investments in dematerialised form along with the appointment of custodian. Under the latest guidelines, AIFs are required to hold their investments in dematerialised form, unless exempted by Sebi. The new framework, effective from October 1, 2024, mandates that any investment made by an AIF after this date must be held in dematerialised form, Sebi said in a circular. However, investments made before this date have been exempted except in cases where the investee company is legally required to facilitate dematerialisation or when the AIF, alone or with other Sebi registered entities, has control over the investee company. Sebi also said investments made before October 1, 2024, falling under these two conditions mentioned must be dematerialised by January 31, 2025. Further, there are exemptions for AIF schemes with tenures ending on or before January 31, 2

Equity issuances could top $40 bn in 2024, says Kotak Investment Banking

The average listing gains stood at an encouraging 33 per cent, making the BSE IPO index the third-best-performing such index globally

P-Note investments surge to Rs 1.31 trillion on domestic mkt strength

Investments through participatory notes in the Indian capital markets jumped to Rs 1.31 lakh crore by the end of November, bouncing back from a decline in the previous month, owing to the robust performance of the domestic market. Before registering a decline in October, investments through P-notes have been increasing continuously since March, following the stable Indian economy against an uncertain global macro backdrop. The latest data includes the value of participatory note investments in Indian equity, debt, and hybrid securities. Participatory notes (P-notes) are issued by registered foreign portfolio investors (FPIs) to overseas investors who wish to be part of the Indian stock market without registering themselves directly. They, however, need to go through a due diligence process. According to the latest data from markets regulator Sebi, the value of P-note investments in Indian markets -- equity, debt, and hybrid securities -- stood at Rs 1,31,664 crore at the end of ...

RBI's new risk-weight rules likely to spur co-lending by banks, NBFCs

The RBI recently decided to revise the risk weight norms for NBFCs to 125 per cent from 100 per cent

Investment via participatory notes slip to Rs 1.26 trillion in Oct

Investments in the Indian capital markets through participatory notes (P-notes) dropped to Rs 1.26 lakh crore in October-end after rising for seven consecutive months. The latest data includes the value of participatory note investments in Indian equity, debt, and hybrid securities. Participatory notes (P-notes) are issued by registered foreign portfolio investors (FPIs) to overseas investors who wish to be part of the Indian stock market without registering themselves directly. They, however, need to go through a due diligence process. Before registering a decline in October, investments through P-notes have been increasing continuously since March, following the stable Indian economy against an uncertain global macro backdrop. According to the latest data from markets regulator Sebi, the value of P-note investments in Indian markets -- equity, debt, and hybrid securities -- stood at Rs 1,26,320 crore at the end of October compared to a six-year high of Rs 1,33,284 crore at ...

Uttar Pradesh government to tap capital markets with municipal bonds

A bond is a debt security issued by a government agency or municipality to finance capital expenditure

CP issuances fall to 1-year low in October as rates rise by 30 bps

On a month-on-month basis, the issuances fell by around 38 per cent

Mid-term report card of Sebi chief shows her priorities have worked

While Sebi has always defined its role as that of a troika of development of the capital markets, their regulation and protection of investor interests, Buch has drawn the lines linking them

SBI Contra Fund: When turbocharging capital creation against the wind

The fund's month-end assets under management increased to Rs 14,649 crore in August 2023 from Rs 1,339 crore in August 2020

Sebi penalises YES Securities for wrong reporting of margin, discrepancies

Capital markets regulator Sebi has imposed a penalty of Rs 5 lakh on YES Securities (India) Ltd for wrong reporting of margin and discrepancy in the computation of client's net worth. It has been directed to pay the fine within 45 days, the Securities and Exchange Board of India (Sebi) said in its order. The order came after Sebi, jointly with the Stock exchanges -- NSE, BSE and MCX -- conducted inspection of documents and other records of YES Securities (India) Ltd to verify the possible violation of stock brokers' rule. In its order, Sebi found several violations, including wrong reporting of margin and discrepancy in reporting of net worth of clients by YES Securities, during July 2021 to March 2022. The regulator said the brokerage house sent the retention statements after the prescribed time of five days and also mailed the statements of accounts to wrong email addresses. Further, it was found that the brokerage house had projected a wrong reporting margin of Rs 2,083. In ..

Sebi extends deadline to add nominees for demat account holders till Dec 31

Capital markets regulator Sebi on Tuesday extended the deadline by three months to December-end for existing demat account holders to provide choice of nomination or formally opt out of nomination through a declaration form. Additionally, submission of 'choice of nomination' for trading accounts has been made voluntary by the regulator as a move towards ease of doing business. Earlier, the deadline for existing eligible trading and demat account holders to provide a choice of nomination was on or before September 30. The move is aimed at helping investors to secure their assets and pass them on to their legal heirs. "Based on the representations received from the exchanges, depositories, brokers' associations and various other stakeholders, submission of 'choice of nomination' for trading accounts has been made voluntary as a step towards ease of doing business. "With respect to demat accounts, it has been decided to extend the last date for submission of 'choice of nomination' to

Uttar Pradesh's top cities to tap capital markets with infrastructure bonds

Depending on the success, other development authorities would be nudged to join the bonds bandwagon

Sebi slaps Rs 65 lakh fine on 13 firms for indulging in non-genuine trades

Capital markets regulator Sebi has imposed Rs 65 lakh fine on 13 entities for indulging in non-genuine trades in illiquid stock options segment on the BSE. In 13 separate orders on Wednesday, the regulator slapped a fine of Rs 5 lakh each on Kalyan Devi Bothra, Kalpesh Udani HUF, Kallol Kutir Pvt Ltd, Jyotiben Prakashkumar Shah, Jyoti Patawari, Jyoti Kariwala, Jupiter Industries and Jugmug Sales Pvt Ltd. The other entities to be fined by Sebi were Jitendra Rameshbhai Patel, Jugal Kishore Gupta, Kajal Agarwal, JIT Finance Pvt Ltd and Jayshriben Dhirendrakumar Maniar. The order came after the regulator observed large-scale reversal trades in the illiquid stock options segment on the BSE, leading to artificial volumes on the exchange. Further, the regulator conducted an investigation into the trading activities of certain entities engaged in the segment from April 2014 to September 2015. The entities to be fined were among those who indulged in reversal trades, Sebi said. Reversal t

Micro, macro and geopolitical factors favouring Indian markets: Ajay Saraf

Markets activity will be robust but be careful around large events, says the head of Investment Banking and Institutional Equity at ICICI Securities